JOHANNESBURG - JSE-listed coal development and operating company MC Mining, formerly known as Coal of Africa Limited (CoAL), resumed the trading of its shares on the AIM yesterday, it said in a statement.
It also confirmed its name change, which was voted by 99percent of shareholders during the company's annual general meeting last month.
Late last month, MC Mining suspended the trading of its shares with immediate effect due to the divergent treatment of changes to CoAL’s international securities identification number (Isin) arising from the share consolidation and name change resolutions. The company has been on a mission to boost its balance sheet after making the R275million acquisition of Uitkomst Colliery in KwaZulu-Natal, the first cash generator for the project, which produces between 450000 and 500000 tons of coal a year.
MC Mining’s focus is on developing the flagship Makhado, its hard coking coal project.
- BUSINESS REPORT